Startup India

Startup India: A flagship initiative of GOI and Role of Chartered Accountants

Corporate Law - Startup India is a flagship initiative of the Government of India, intended to build a strong ecosystem that is conducive for the growth of Startup businesses, to drive sustainable economic growth and generate large scale employment opportunities. The Government through this initiative aims to empower Startups to grow through innovation a...

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Alternative Assets: Are They Good Investments?

Corporate Law - As the people are becoming more responsible financially, the charm of retail investments has increased a lot in the past 5-10 years. Although most people invest their money in traditional assets such as stocks and bonds, there are benefits to investing in alternative assets too. In this blog, we will discuss these benefits and how [&helli...

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Angel Taxation in India

Corporate Law - Who are angel investors? Angel investors (also called informal investors, angel funders, private investors, seed investors or business angels) are affluent individuals who inject capital for startups in exchange for ownership equity or convertible debt These investors invest their money in an entrepreneurial company unlike institutional ...

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An early guide for Start Ups

Corporate Law - Literally, a start up means ‘the action or process of setting something in motion’. Elaborating, it can be defined as a young business venture that is just beginning to develop. Startups are usually small and initially financed and operated by a handful of founders or one individual. Generally, it offers a product or service t...

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Start-ups- Things to consider from various Tax & Regulatory perspective

Corporate Law - Today, many innovative ideas have evolved around the nation and people have come up with start-up entities to commercialise on their ideas. Start-ups today are more in news considering their potential and the out of the box thinking. But what looks exciting and attractive, is not necessarily simple and easy. Entrepreneurs many times dwell...

Read More

DIPP Clarification on IT Notice to Angel Investors/Start-ups

Corporate Law - The Department of Industrial Policy & Promotion(DIPP) has taken notice of the news reports regarding issue of notices by Income Tax authorities to Angel Investors/Start-ups. DIPP in consultation with the Department of Revenue (DoR) has put in place a mechanism since April 2018 to grant exemption from the provisions of Section 56(2)(vi...

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Sec. 79 Carry forward and set off of loss in case of eligible startups: Provide further relaxation

Corporate Law - The Finance Act, 2017 amended section 79 to provide that where a change in shareholding has taken place in a previous year in the case of a company, not being a company in which the public are substantially interested and being an eligible start-up as referred to in section 80-IAC of the Act...

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Major achievements of Govt Social Security and Credit Schemes

Corporate Law - Through its Major Schemes, Department of Financial Services is ensuring financial inclusion, providing social security to the people as well as providing credit to various sections of the society. The major achievements of various schemes under the Department are highlighted below...

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Govt creates Funds of INR 10,000 Crores to Support Innovation Driven Start-Ups

Corporate Law - Start-up Initiative: a Fund of Funds of INR 10,000 Crores to Support Innovation Driven Start-Ups has been Established to be Managed by SIDBI...

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Steps by MCA & DIPP to promote startup India programme

Corporate Law - Relaxations for companies, including start-ups have been provided through changes in various rules notified under Companies Act, 2013, and include following...

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TP- operating cost should be calculated by adjusting abnormal cost incurred on account of Start-up Company

HCL Technologies BPO Services Ltd Vs ACIT (ITAT Delhi) - In the case of HCL Technologies BPO Services Ltd vs. ACIT, ITAT has held that for transfer pricing only amount retained by associates from end user is to be taken into account for transfer pricing adjustment, and to adjust operating cost by excluding abnormal cost incurred on a/c of Startup Company ...

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No Tax on issue of share capital by eligible start-ups at excess premium: CBDT

Notification No. 24/2018-Income Tax [S.O. 2088(E)] - (24/05/2018) - Central Government, hereby notifies that the provisions of clause (viib) of sub-section (2) of section 56 of the said Act shall not apply to consideration received by a company for issue of shares that exceeds the face value of such shares, if the consideration has been received for issue of shares ...

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Sec. 56(2)(viib) not applicable to startups having paid up share capital upto Rs. 10 crore

Notification No. G.S.R. 364(E) - (11/04/2018) - pproval for the purposes of clause (viib) of sub-section (2) of section 56 of the Act -A Startup being a private limited company and in conformity with the definition as per definition stipulated at Para 1(a) shall be eligible to apply for approval for the purposes of clause (viib) of sub-section (2...

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No coercive recovery from Start ups for addition on Share Capital Valuation issue: CBDT

F.No. 173/14/2018-ITA.I - (06/02/2018) - It has been decided that in case of 'Start Up' companies which fall within the definition given in Notification of DIPP, Min. of Commerce & Industry, in G.S.R. 501(E) dated 23.05.2017, if additions have been made by the Assessing Officer under section 56(2)(viib) of the Act after modifying/rejecting...

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Startup: Meaning, Process of recognition and Tax Benefits

Notification No. G.S.R. 501 (E) - (23/05/2017) - In order to obtain tax benefits, a Startup should – i. be a private limited company (as defined in the Companies Act, 2013) or a limited liability partnership (as defined under the Limited Liability Partnership Act, 2008) which is incorporated on or after the 1st day of April, 2016 but before the ...

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Self-certificate compliance regime for Start-ups extended to five years

Circular No. CAIU/011/(34)2016/3806 - (16/05/2017) - For the first year of setting up of the Start-ups such establishments may not be inspected under any of the 6 Labour laws (viz. BoCW Act, ISMW Act, Payment of Gratuity Act, Contract Labour Act, EPF Act and ESI Act). These start-ups may be asked to submit an online self-declaration instead....

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Recent Posts in "Startup India"

Startup India: A flagship initiative of GOI and Role of Chartered Accountants

Startup India is a flagship initiative of the Government of India, intended to build a strong ecosystem that is conducive for the growth of Startup businesses, to drive sustainable economic growth and generate large scale employment opportunities. The Government through this initiative aims to empower Startups to grow through innovation a...

Read More
Posted Under: Finance |

Alternative Assets: Are They Good Investments?

As the people are becoming more responsible financially, the charm of retail investments has increased a lot in the past 5-10 years. Although most people invest their money in traditional assets such as stocks and bonds, there are benefits to investing in alternative assets too. In this blog, we will discuss these benefits and how [&helli...

Read More
Posted Under: Finance |

Angel Taxation in India

Who are angel investors? Angel investors (also called informal investors, angel funders, private investors, seed investors or business angels) are affluent individuals who inject capital for startups in exchange for ownership equity or convertible debt These investors invest their money in an entrepreneurial company unlike institutional ...

Read More
Posted Under: Finance |

DIPP Clarification on IT Notice to Angel Investors/Start-ups

The Department of Industrial Policy & Promotion(DIPP) has taken notice of the news reports regarding issue of notices by Income Tax authorities to Angel Investors/Start-ups. DIPP in consultation with the Department of Revenue (DoR) has put in place a mechanism since April 2018 to grant exemption from the provisions of Section 56(2)(vi...

Read More
Posted Under: Finance |

An early guide for Start Ups

Literally, a start up means ‘the action or process of setting something in motion’. Elaborating, it can be defined as a young business venture that is just beginning to develop. Startups are usually small and initially financed and operated by a handful of founders or one individual. Generally, it offers a product or service t...

Read More
Posted Under: Finance |

Start-ups- Things to consider from various Tax & Regulatory perspective

Today, many innovative ideas have evolved around the nation and people have come up with start-up entities to commercialise on their ideas. Start-ups today are more in news considering their potential and the out of the box thinking. But what looks exciting and attractive, is not necessarily simple and easy. Entrepreneurs many times dwell...

Read More
Posted Under: Finance |

Foreign Direct Investment In Startups

This articles states the ways in which FDI is possible in startups....

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Posted Under: Finance |

Tax incentives and challenges for start-ups

The start-up, as an idea, has now inspired many across the world. It has strengthened various economies, built entrepreneurship skills, created enormous job opportunities along with wealth and has spread its roots in India....

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Posted Under: Finance |

Change is inevitable, muddle through changing opportunities

The first thought in mind on hearing the profession of chartered accountant creates an image of an auditor, tax consultant, accounting, shared services etc. The traditional practice started and followed for years together has seen changing trends in recent times. The challenge for chartered accountant does not gets confined only to audit ...

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Posted Under: Finance |

Presentation on Startup and Project Finance

The Presentation covers Start up, Technical compliance, Tax benefits, Formation, Project Setup and Preparation of Project Report. Various options for Fund raising and Finance....

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Posted Under: Finance |

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